Payment of Dividend and Issue of Equity

RNS Number : 5815B

British Smaller Companies VCT2 Plc

03 October 2022

 

British Smaller Companies VCT2 plc (the "Company")

Payment of Interim Dividend and Allotment of Shares

The Company announces that on 3 October 2022 it paid a second interim dividend for the year ending 31 December 2022 of 1.5 pence per ordinary share to shareholders on the register of members of the Company as at the record date of 2 September 2022 (the "Second Interim Dividend").

The Company further announces that on 3 October 2022 it issued and allotted 922,314 ordinary shares of 10 pence each pursuant to its dividend re-investment scheme ("DRIS") at a price of 58.8 pence per ordinary share to shareholders of the Company who elected to receive ordinary shares instead of the Second Interim Dividend. The subscription price of 58.8 pence per ordinary share was determined in accordance with the terms and conditions of the DRIS on the basis of the net asset value of 60.3 pence per ordinary share as at 30 June 2022 (adjusted for the Second Interim Dividend of 1.5 pence per ordinary share paid today).  As a result, 20 per cent of the Second Interim Dividend paid by the Company was re-invested in ordinary shares in the Company via the DRIS.

In this allotment the employees and members of the Manager, YFM Private Equity Limited, have been allotted 3,270 ordinary shares of 10 pence each in the Company, bringing their aggregate total holding to 432,569 ordinary shares.

Application is now being made for the ordinary shares which were issued and allotted as set out above to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's Main Market for listed securities, and dealings are expected to commence on or around 17 October 2022.

Following such issue and allotment the Company's issued share capital consists of 182,086,652 ordinary shares of 10 pence each with voting rights ("Voting Capital") and 18,048,870 ordinary shares of 10 pence each held in treasury.

The above statement of Voting Capital may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

David Hall   YFM Private Equity Limited   Tel:  [phone]

Alex Collins    Panmure Gordon (UK) Limited  Tel:  [phone]

 

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